ZSuite Tech Raises $11M in Series A Funding Round, Led by S3 Ventures | New
Summary
The funding is led by S3 Ventures with additional participation from several private banks and JAM FINTOP.This investment accelerates ZSuite Techs ability to scale its platform, grow the organization, expand into new markets, and meet the growing demand for modern digital commercial banking tools and solutions.Managing commercial escrow and underaccounting is a very complex manual process that has plagued bankers and their clients for years, said Charlie Plauche, general partner at S3 Ventures. S3 has been supporting since long time software companies that innovate in the financial services industry.In an era of rising interest rates, attracting sticky deposits becomes more important than ever ZSuite Tech has a perfectly positioned platform and the right team in place. Additionally, the company manages over $140 million in annual payments and $300 million in annual deposits on the platform.Nathan Baumeister, CEO and Co-Founder of ZSuite Tech, said, The financial services industry as a whole faces a compelling need to innovate faster and quickly deliver differentiated offerings to meet the changing expectations of their account holders. . We took a different approach than most fintechs when ZSuite Tech spun out of a bank, with the goal of long-term success. We have continued the partnership between technologists and bankers in all aspects of our business, from product development to leadership, and this is the main reason for the companys phenomenal growth and success in a short time. Learn more at www.s3vc.com.See the source version on businesswire.com: https://www.businesswire.com/news/home/20220804005248/en/INDUSTRY KEYWORD: OTHER PROFESSIONAL SERVICES OTHER TECHNOLOGY SOFTWARE FINANCE START-UP CONSULTING BANKING ACCOUNTING OTHER CONSTRUCTION & REAL ESTATE PROFESSIONAL SERVICES DATA MANAGEMENT TECHNOLOGY MOBILE/WIRELESS COMMERCIAL BUILDING & REAL ESTATE FINTECH CONSTRUCTION & PROPERTY PAYMENTS SMALL BUSINESS APPLICATIONS/APPLICATIONS